The Rockets’ Red GlareBut with about 90 minutes to go the downside fireworks began, as a Chinese court banned Micron from selling chips. (I suspect this is the form of retaliation we will see from them as trade frictions intensify, and if I were Apple I’d be worried.) After that news hit the market flipped over, led south by the Nasdaq, which lost almost 1%.

Away from stocks, green paper was a little weaker, oil was a nonevent, fixed income was higher, with the long end quite strong, and the metals recovered a decent portion of yesterday’s losses, with both gold and silver rallying about 1%. Once again, the miners were very strong.

Just Need to Check the TimingA reasonable case can be made that the recent metals correction is over. On the other hand, I would be less than honest if I didn’t admit that I’ve thought that a couple of times already. Nonetheless, the strength of the miners has been quite impressive and, as I noted last week, this sort of action argues for higher prices.

Included below are two questions and answers from the Q&A’s with Bill Fleckenstein.

Real World InflationQuestion: I just noticed for the first time since I can remember a very sudden bunch of price increases for some common things/services.

KWN has also released the powerful audio interview with Gerald Celente discussing what will cause the price of gold to soar, the top trend for the back half of 2018 as well as what surprises to expect and you can listen to it byCLICKING HERE OR ON THE IMAGE BELOW.